Member Compliance & Operational Requirements

To ensure uninterrupted access to FHLBank Chicago products and services, member institutions must complete a series of recurring compliance and operational tasks. These requirements are designed to uphold the integrity of our systems, protect member institutions, and maintain alignment with regulatory expectations. 

Compliance & Operational Requirements

Every two years, members engaged in residential mortgage lending must complete the CSP review. This submission demonstrates your institution’s commitment to community lending and is required to maintain access to long-term advances.

Public Comments – Nonprofit organizations, community groups, and other interested parties may comment on a FHLBank member’s record between February 19 - March 24, 2025. Public comments on an individual FHLBank member can be submitted to the FHFA via  email.  

Failure to Meet CSS Requirements – If a member does not submit a CSS or fails to meet the CSP requirements, the FHFA requires FHLBank Chicago to restrict the member's access to our services and products. Once access is restricted, the member cannot borrow advances for longer than one year or access any of the community investment programs, including the competitive Affordable Housing Program, Downpayment Plus® programs, and Community Advances. The restriction can be lifted by submission of a CSS that meets the FHFA requirements. 

Contact - Questions related to CSP can be directed to FHLBank Chicago Community Investment at 312.565.5824 or [email protected]. 

Each year, a designated Member Security Administrator (MSA) must review and confirm their institution’s eBanking user roles and access permissions. This recertification ensures that only authorized individuals can initiate transactions such as wires, advances, and letters of credit. Failure to complete this process by the stated deadline may result in restricted access to eBanking services. This year, members must complete their recertification by Oct. 10, 2025.

Steps to Recertify

  1. Access the eBanking Administration Recertification by logging into eBanking through fhlbc.com, visiting the eBanking message center, and opening the post titled “Annual Recertification for MSAs Due by October 10, 2025.”
  2. Select the “Visit the recertification page” link to begin the process.
  3. Carefully review your institution’s account information by clicking on Admin Summary to ensure data is accurate and make any updates needed.

Contact [email protected] or call 855.345.2244, option 0, with questions regarding the recertification process.

Annually, FHLBank Chicago Participating Financial Institutions (PFIs) and servicers that have sold or serviced one or more mortgage loans under the Mortgage Partnership Finance® (MPF®) Program within the calendar year are required to submit a complete accurate Annual Eligibility Certification (AEC) Form OG1, certifying and affirming compliance with all of the provisions and requirements of the Applicable Agreements and the Guides as a condition of continuing eligibility. 

FHLBank Chicago member institutions must submit the completed form and supporting documentation via the eMPF website by January 31, 2025. As part of the AEC, PFIs, and servicers must upload supporting documents and indicate on Form OG1, which supporting documents have been uploaded or are to be uploaded. 

Learn more and see detailed guidelines by reading our AEC article.

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